Collections, Frequently Asked Questions
2: How do I find out about all of my student loans?
3: How do I make a payment? What are my options to do so?
4: If I return to school, can I defer my Perkins Loan?
5: I am unemployed. Can I defer my Perkins Loan?
6: What is meant by satisfactory repayment and rehabilitation?
7: When is an Exit Interviews required?
8: Why do I need an Exit Interview?
9: What happens if I do not complete the Exit Interview?
10: Who do I contact if I have a question about a bill that has been sent to University Collections?
11: If my bill has been sent to University Collections, does that mean it is at a collection agency?
Forbearance is usually a temporary postponement of payments.
Interest continues to accrue during any period of forbearance. The borrower
may request to pay interest as it accrues during periods of forbearance,
but is not required to.[page top]
Borrowers must request forbearance in writing, providing supporting documentation of the reason for forbearance. Schools may grant forbearance to borrowers who are experiencing financial hardship, poor health, or for other acceptable reasons.[page top]
2: How do I find out about all of my student loans?
Contact NSLDS (National Student Loan Data System) at 1-800-4-FED-AID, or http://www.nslds.ed.gov/ [page top]
3: How do I make a payment? What are my options to do so?
Contact University Collections at (619) 594-5827
Mail your payment to:
San Diego State University
University Collections
5500 Campanile Dr
San Diego CA 92182-7448
On-line payment
Perkins or University Long Term Loan
https://www.ecsi.net/cgi-bin/bcgi.exe
1-888-549-3274
For all other SDSU Debts go to
Student Financial Services,
then to On-Line Services.[page top]
4: If I return to school, can I defer my Perkins Loan?
Yes. A borrower may defer repayment of a Perkins Loan if he or she is enrolled at least halftime (6.0 units) in an eligible school. To receive an in-school deferment, the borrower must be enrolled as a regular student in an eligible institution of higher education or a comparable institution outside he United States approved by the Department for deferment purposes. [page top]
5: I am unemployed. Can I defer my Perkins Loan?
Yes, Principal need not to be paid and interest will not accrue for a
period not in excess of three years while you are:
· Seeking and unable to find full-time employment.
· For any reason that has caused or will cause
you an economic hardship (as determined by SDSU).
An additional six-month grace period will be granted after the completion
of this deferment period.
Contact University Collections for forms and further information. [page top]
6: What is meant by satisfactory repayment and rehabilitation?
For the purpose of reestablishing eligibility for federal student aid after defaulting on a student loan, satisfactory payment arrangements must be made to the appropriate loan holder for each defaulted loan. This is defined as:
Six consecutive full monthly payments as agreed upon with the holder
(a lump sum prepayment of future installments does not satisfy the requirement
for six consecutive payments)
· On time (within 15 days of the payment due date)
· Voluntary (directly by the borrower, court-ordered
or involuntary payments obtained by state offsets or federal Treasury
offsets, wage garnishment, or income or asset execution do not count against
the six required payments)
Note that after reestablishing eligibility, the borrower must continue to make payments according to the arrangements made with the lender and the loans are still considered to be in default
For the purpose of rehabilitation of a defaulted student loan, the borrower must make payments that are:
· 12 consecutive full monthly payments as agreed
upon with the lender (a lump sum prepayment of future installments does
not satisfy the requirement for 12 consecutive payments)
· On time (within 15 days of the payment due date)
· If the borrower fails to send a payment on time
during any of the 12 months, the 12-month cycle must start over
· Voluntary (directly by the borrower; court-ordered
or involuntary payments obtained by state offsets of federal Treasury
offsets, wage garnishment, or income or asset execution do not count against
the 12 required payments) [page top]
7: When is an Exit Interviews required?
Exit Counseling is required when borrowers approach their last days of attendance. During exit interviews information is given with regards to repayment obligations, default, credit reporting, litigation, assignment to collection agencies, rehabilitation, deferments and cancellations.
An Exit Interview is required, if:
· You are leaving SDSU, AND not returning the
following semester (leave of absence); or
· You are transferring to another school; or
· You are below half-time status or dropping below
half-time status (six units) during the semester; or
· You withdraw from SDSU.[page
top]
8: Why do I need an Exit Interview?
An exit interview was established to give student loan borrowers repayment information with regards to their Federal Perkins Student Loan Repayment. During the interview borrowers are given information with regards to loan balance(s), finance charges, payment terms, and relevant terms and conditions that apply to the loan.[page top]
9: What happens if I do not complete the Exit Interview?
If an exit interview is not completed, a hold will be placed on your university records until it is done.[page top]
10: Who do I contact if I have a question about a bill that has
been sent to University Collections?
Contact University Collections to discuss payment of a bill, contact the specific department that generated the bill for information about what the bill is for or why you have been billed. [page top]
11: If my bill has been sent to University Collections, does that mean it is at a collection agency?
All Cashier bills that are not paid by the due date are forwarded to University Collections. The University is NOT a collection agency, however, there are some debts that SDSU will send to an outside collection agency. [page top]
12: I filed a Petition for Special Consideration with the Cashier’s
department, so why do I still get a collection letter from Collections
Department?
When you receive your first collection letter you must first call the Collections Department and inform them of your Petition and the reasons for the Petition. Until the decision is made (approximate 4 to 6 weeks) you will continue to receive collections letters and possibly phone calls.[page top]
Information on this Web site is subject to changes without
notice. Every effort is made to ensure that information is current and
accurate. The statements found on this Web site are for informational
purposes only. This page last updated May 05, 2005
Site contact: fgracia@mail.sdsu.edu